Carlyle completes first Southeast Asia deal
The Carlyle Group has made its first investment in Indonesia, reportedly buying a stake of around 25% in telecom towers operator Solusi Tunas Pratama (STP) for $100 million. The private equity firm confirmed to AVCJ that it had completed its debut transaction in the region, while other sources identified the company as a telecom infrastructure business.
According to Reuters, the target is publicly-listed STP, which has a market capitalization of about IDR3.45 trillion ($360 million) and is trading at a price-to-earnings (P/E) ratio of more than 18x. Bloomberg...
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